Aug 08, 2022 04:40AM ET
By: AnalysisWatch
The year is 2027. It’s a time of great innovation and technological advancement, but also a time of chaos. What will the crypto market look like in 2027?
Long-term predictions are notoriously difficult to make, but they are good thought experiments. One year is too short a period for fundamental changes, but five years is just enough for everything to change.
Here are the most unexpected and outrageous events that could happen over the next five years.
The metaverse is a hot topic, but most people do not have even the slightest idea of what it actually comprises. The metaverse is a holistic virtual world that exists on an ongoing basis (without pauses or resets), works in real-time, accommodates any number of users, has its own economy, is created by the participants themselves, and is characterized by unprecedented interoperability. A variety of applications could (in theory) be integrated into the metaverse, including games, video-conferencing applications, services for issuing driver’s licenses.
This definition makes it clear the metaverse is not such a novel phenomenon. Games and social networks that include most of the features stated above have been around for quite some time. Granted, interoperability is a problem that needs to be addressed seriously. It would have been a very useful feature to be able to easily transfer digital assets between games — or a digital identity — without being tethered to a specific platform.
But the metaverse will never be able to cater to every need. There is no reason to include some services in the metaverse at all. Some services will remain isolated due to the unwillingness of their operators to surrender control over them.